Is cash just vanity just as ‘likes’ or even ‘downloads’?
What metrics really matter?
What should you really be tracking?
In this blog post, I’m summarising a few learnings from my past growth experiments and campaigns:
- When there is an option to optimize a ratio over a number, most often, it’s better to focus on the ratio – especially over the long term.
- For example, for an eCommerce business, know your margins and work on a target ROAS and ROI rather than the revenue goal.
- For a SaaS company focusing on filling the funnel, target a high visitor to trial conversion rate over the volume of traffic on your website.
- As a mobile app, work on improving a metric like % of retained users over a time-period vs the number of app installs.
- This requires not just a mindset shift, but also a transformation in the ways you approach marketing and campaigns.
- There is magic in ratios that is missing in flat numbers. Numbers are great for the narrative while ratios are the essence.
- Just like what we face in life, a question of choosing the narrative vs the essence. When faced with this question, always focus on the essence.
Ying and Yang
Balance is everything.
While most entrepreneurs, marketers, and technologists will usually tend to one side of the spectrum, fighting personal biases and finding the middle way is probably the best option for success in the long term.
I’ve added a few examples of how we tend to lean toward the A or C side of the spectrum.
While B is for Balance.
The examples will also help you find some actionable ways you can start coming more toward the center of the spectrum.
Your short-term peaks may not benefit from doing this, but your long-term game most definitely will.
All the best!